Evolve Markets Full 2023 Review – Pros, Cons, My Experience

Evolve Markets
















Evolve Markets is a Contract for Differences (CFD) finance broker. They have been in business since 2016 and specialize mainly in cryptocurrency spread trades. The 5 years in business quite a long time in this industry, which is promising. Can you really trust Evolve Markets with your hard-earned money? Today we are going to review Evolve Markets and look at what’s good, and what’s not quite so good about the broker.

Evolve Markets Trading Account Types

Evolve marketsOpens in a new tab.

Evolve Markets is also missing a proper demo platform where you can try out all the different features. It is possible to look around the platform before you register, but there is no money in the wallet, which means you can’t actually place any demo trades.

Regulation and Security Of Funds At Evolve Markets

The security of your money is one of the most important things to consider when choosing a brokerOpens in a new tab.

Evolve MarketsOpens in a new tab.

When looking through the website there isn’t an adequate amount of information about how clients’ money is kept separate and identifiable, which does raise some serious red flags. The site does mention that client funds are kept in an offline wallet which protects them from being hacked. But there doesn’t seem to be any mention of segregation of funds or protecting from hardware failures.

The website itself is secure, and Evolve Markets take the security of their clients very seriously. Client accounts are kept secure by using 2-factor authentication. This means that as well as a password, you also need your mobile phone to be able to log in. As a result, it should make it much more difficult for someone to gain unauthorized access to your account.

Trading Conditions At Evolve Markets

The trading conditions available at Evolve Markets are pretty competitive. The broker offers a very attractive leverage of 1:1000 on most cryptocurrency coins and forex exchanges. The other assets are typically capped lower. The fees are combined with the spreads which can make it a bit confusing to understand. The fees are also sometimes a bit more than some competitors.

Typically unregulated brokers like Evolve MarketsOpens in a new tab.

Which Trading Platforms Does Evolve Markets Offer?

Evolve has two different trading platforms, the industry-standard MT5 platformOpens in a new tab.

Their own proprietary trading platform looks very similar to TradingviewOpens in a new tab.

Tradingview, for reference.

Which Payment Methods Are Evolve Markets Accepting?

Like most other crypto brokers, deposits and withdrawals to Evolve Markets can only be made using certain types of cryptocurrency. Evolve Markets accepts deposits in Bitcoin, Ether, Tether or Litecoin. It’s also worth noting that your deposits will be left in the same currency you deposit it in and are not converted to any other type. If you have any other cryptocurrencies or want to pay with a card then you will need to go through a third-party exchange. It’s nice though that this broker doesn’t charge anything to make deposits. Money deposited appears in your account very quickly, normally as soon as the next confirmation on the blockchain.

Customer Support

If you have a problem with your deposit or trade, then you will need to raise a case with support. This is where Evolve Markets falls down. The only way of reaching support is by email. There is no live web chat or phone number to call. That said, email support is available 24 hours a day, Monday to Friday. You can expect a reply pretty quickly.


Evolve Markets has recently required a new financial license from MWALI International Services Authority (MISA), which is a great sign for traders. This demonstrates their commitment to a secure and regulated environment for traders – great to see! The new license can be verified on the MWALI site here: MWALI Register.Opens in a new tab.

KYC And Sign Up

KYC or ‘Know Your Customer’ is a fairly standard process for most brokerages across the world. Evolve Markets use SumSub, which is an industry leading KYC service. The outsourced service streamlines the process and reduces the likelihood of fraud within the brokerage, whilst keeping the onboarding process fast and efficient. 

With that being said, due to the regulation, KYC is not mandatory at Evolve Markets, making it a great option for those traders that really value their level of privacy and prefer not to work with a broker that needs to have their documents stored. 

In Summary – Are Evolve Markets Legit?

In short, Evolve Markets are a legitimate broker and are continually making improvements to their regulation and KYC over the last 2 years. This has certainly put us at ease as working with a regulated brokerage is always going to be a safer option. With that being said, Evolve Markets still has a range of options for those traders that really value their privacy and would rather not submit KYC when working with a brokerage. 

Obviously this is a huge upside to some traders, but a risk to some other traders. 

I would personally recommend using a regulated broker for your own safety. We have a whole list of the top forex brokersOpens in a new tab.

We’ll keep updating this review over time as further additions are being made to the Evolve Markets offering, as regulation strengthens and their offering changes over time! 

Kyle Townsend

Kyle Townsend is the founder of Forex Broker Report, an experienced forex trader and an advocate for funding options for retail forex traders.

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